We can have a sigh of relief seeing the COVID-19 graph now has been showing a significant decline for these past few weeks until today. Amid the struggles people face due to the major impact of the pandemic, Bali remains clear that this plaque too shall pass. The paradise will be back alive and run its business. This is following the social restrictions that confirmed that areas in Bali and Java are in either 2 or 3 levels of COVID-19. So we can now hope a brighter future will be before our eyes very soon.
On the other hand, housing demand has been at an all-time high because of the lockdowns. With people cherished working from home now, it affects the development of infrastructure. Raw materials, especially steel and cement are seeing a spike in price. As a result, the construction costs for real estate will also undergo an increase.
The thing presumably will happen following this regard is constructions might be put off in delivery and thus will not be able to meet the rising demands of homebuyers.
Considering the handover of the G20 presidency to Indonesia, which will take place in Rome on 30-31 October 2021, this will cause a major impact on domestic economic recovery. The G20 Summit itself is an international forum first founded in 1999. Indonesia, in this case, will serve for the 2022 period, valid from 1 December 2021 to 30 November 2022, carrying the theme of recovering together, recovering stronger.
Citing the words of the Minister of Economy Airlangga Hartanto during a virtual press briefing, “The G20 will encourage global investors with profitable partnerships to accelerate economic recovery.”G20 consists of 66% of the world’s population which controls 85% of the world’s Gross Domestic Product (GDP). This meeting will discuss global issues that can threaten economic growth and economic and financial stability.
The presence of these international delegates in Indonesia is expected to contribute directly to the hospitality sector, transportation, to the perceptions of investors and other economic actors. Over the next year, the National Committee is also preparing for the needs of logistics, infrastructure, security, and many others to prepare to receive world guests, maintaining Indonesia’s good image for the success of Indonesia’s G20 presidency. (Source)
In Q4 of 2021 and the year, 2022 we will see a breakthrough of significant growth of tourist arrivals in Indonesia based on the statistics provided by the analysts at tradingeconomics.com. The reopening of the border in Bali will also depend entirely on the G20 Summit and the latest update of COVID-19 cases later. At this point, property investment will be promising with economic recovery moves pursued by the central government. It might continue for years ahead.
According to a survey conducted by Bank Indonesia published in August 2021, it is also seeing 78.7% of their respondents saying that there is an ease and speed of obtaining credits with lower interest rates than ever. The result makes NOW the perfect time to buy or invest in properties. (Source)
Along with the numerous offers spring up in the property market, buyers should be very considerate to choose which one to buy. Always go for trusted property developers to ensure you are only getting the best quality of materials, on-time delivery, and regular maintenance for a lifetime. Sometimes, large cut-off prices can also mean a sham deal that compromises quality. So, find true developers that do not only propose properties at decent price points but also prioritize quality at the top of their business. No promises are given, but you know that the investment you’re about to make with them will take you to absolute high returns in monetary value in the long run.
Real estate investments, therefore, will give you more advantages if you do it now. The rule of thumb avid investors must have known in this market segment is that inflation rates for any properties are INEVITABLE, considering the soon uprising prices for raw constriction materials and the open border for tourist arrivals in paradise. This makes a good reason why you should only focus on investing now as time goes by very quickly and anyone reading this is already on their way to make a good unit purchase with us.